Galderma Acquires ZO Skin Health in a Monumental $1.5 Billion Deal

In a landmark skincare deal of the year, Swiss dermatology giant Galderma has inked a deal to acquire the California-based ZO Skin Health. The enterprise value of the deal stands at a whopping $1.5 billion, making it Galderma’s largest acquisition since its public listing in early 2024.

Established in 2007 by the acclaimed Syrian-American dermatologist Dr. Zein Obagi, ZO Skin Health operates from its headquarters in Irvine, California. The company boasts an impressive portfolio of over 40 products, which are sold through a vast network of more than 16,500 physicians, medical spas, and online accounts across 40+ countries. In the 12 months leading up to June 2026, the brand generated a substantial $330 million in net sales.

The acquisition deal will see Galderma take over 100% of ZO from shareholders, which includes the investment behemoth Blackstone and members of the founding Obagi family. The deal will be financed through a mix of existing cash reserves and bank financing. Galderma intends to integrate the brand into its Dermatological Skincare portfolio, alongside its existing brands Alastin and Cetaphil.

“This acquisition is another significant stride towards building the world’s most innovative dermatology portfolio,” stated Flemming Ornskov, CEO of Galderma. The transaction is slated to close in Q4 2026 or early 2027, pending regulatory approvals.

Source: Premium Beauty News – October 15, 2026